Business Planning
Corporate & Partnership Protection
Whether a business is a Partnership or Limited Company, the death of a Partner or Director can have a profound and immediate effect on the business. One problem is finding capital, whether personal or from profits, to buy the deceased's share. Another is having inexperienced beneficiaries, having an influence on the running of the business.
Through financial planning, these problems can be alleviated. The capital needed to buy out the deceased's share or compensate beneficiaries through the interest passing directly to the surviving owners, can be funded through a number of Life Assurance products.
Key Man Cover
Many new and smaller businesses are heavily reliant on "Key" personnel e.g. Salesman, Technician, Financier etc and are therefore vulnerable in the event of their being unable to work through death or critical illness.
They may have to recruit someone else to take over the role who may not be as productive as the Key Man. A lot of additional time and resource may be spent on developing the new team member.. At the same time an onus, moral or legal, will be placed to continue to pay the Key Man if he were off work through accident or illness.
Although it is good practice to become less reliant on any individual(s) a business can protect itself against this possibility. Business can ensure their key employees in the event of death or serious illness to ensure that the business can survive. This can be important in reassuring a bank manager that business loan payments can be maintained.
Putting measures in place to protect against this event may seem expensive, however, the question is can businesses afford not to?
We strongly recommend seeking professional advice to ensure the appropriate protection policy is in place.
Employee Benefits
The Employee Benefits Division provides a full range of services required for final salary and money purchase pension schemes. It provides Trustees, Members and Employers with an efficient administration service and personal pension advice, which is independent, comprehensive and responsive to their needs.
Typically we manage and administer Group schemes with active members of up to 1000.
The world of pensions has become immensely complex and and we are able to provide guidance and explain matters in simple terms to Trustees, Employers and Members. Communication is very important to us.
The key aspects of the service include:
- Pension experience including Final Salary, Money Purchase and Small Self Administered Schemes (SSAS)
- Regular re-broking of the risk benefits to see if costs can be saved
- A fixed competitive annual charge
- Administration team experienced in smoothly transferring schemes from other providers using market leading administration software
- Quality commitment with penalty clause for non performance
- Short termination clause
- Pension Help-line
- Customised scheme documentation and literature
- Own Independent Trustee Company
Employee Share Options/Sharesave
Shares received from company share schemes may well produce significant capital gains when sold, which could incur a Capital Gains Tax (CGT) liability. Careful planning can reduce or eliminate the tax liability and we provide a share dealing facility that includes advice on the most tax efficient way gains can be realised
In addition, for clients who are members of Discretionary Share Option Schemes, we can provide the necessary funds, on competitive terms, to allow options to be exercised.
The value of your investment can fall and you may get back less than you invested. If you are unsure about the suitability of a particular investment or service, please contact us for advice.